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Opting Out Of The Obamacare Tax: What Happens If You Don’t Pay?

from Forbes:

Last month, the Obama administration announced that between three and six million households – about 2 to 4 % of taxpayers – would be faced with a penalty (or is it a tax?) at tax time for failing to secure “minimum essential coverage” to comply with the Affordable Care Act (ACA), sometimes referred to as Obamacare.

Under Obamacare, you’re considered covered if you have insurance through the government, including Medicare, Medicaid, CHIP, retiree coverage, TRICARE, or VA health coverage; private insurance that you purchased on your own including COBRA coverage and coverage obtained through the Health Insurance Marketplace; or provided by your employer (even if you didn’t pay anything for the coverage). You’ll report coverage on your tax return (find out how here). Most taxpayers – about 130 million or so – will report coverage.

Read More @ Forbes.com

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1 comment to Opting Out Of The Obamacare Tax: What Happens If You Don’t Pay?

  • Rodster

    Thanks for posting this article Sean. Obamacare is a fraud thru and thru and they managed to make the IRS even bigger in the process. It confirms what I read last year that the IRS is toothless enforcing the tax penalty. I argued with a tax preparer over the toothless enforcement of Obamacare.

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